FeeSynergy: A decade supporting the Client Choice Awards
In Today’s Q&A on Research.Reveal, George Beaton talks with Founder and Managing Director of FeeSynergy, Malcolm Ebb.
Back in 2012, FeeSynergy was amongst the first sponsors to support what were then known as the BRW Client Choice Awards. The demise of BRW reminds us just how much and how fast times are changing. In 2022 one thing hasn't changed: FeeSynergy remains a staunch supporter and sponsor of the Awards. Thank you for joining our readers today Malcolm.
Q: Please share with our readers why FeeSynergy continues to support the Client Choice Awards so strongly.
A: We initially came onboard as a sponsor of the then BRW Client Choice Awards primarily because the Awards aligned closely with our own ethos around the provision of exceptional client service. The BRW brand was of course a draw card for us as the magazine was 'required reading' for anyone in business and particularly within the professions we served. The annual BRW Top 100 were always eagerly awaited editions! The demise of the BRW was disappointing however the Awards in my view grew even more prestigious when the Australian Financial Review came onboard. Irrespective, over its long history, the Client Choice Awards have well and truly transcended brand association and carved out their own reputation for being the pinnacle of Awards in the professions. 2022 was our 10th consecutive year sponsoring the Awards and it has been an honour to see so many of our clients being named Finalists and Winners in that time – this just adds to our own sense of pride in sponsoring the Awards.
Q: In recent years, FeeSynergy has broadened your market to add law firms and New Zealand to where you started with accounting firms in Australia. What are the key reasons for this success?
A: Miki Simonovski and I established FeeSynergy in 2006 however we had been working in and around financial services for many years before then. We started out as a niche provider of professional fee finance to accounting firms in Australia and off the back of our early success expanded to New Zealand in 2008.
By 2012 we were servicing over 150 accounting firms across Australia and New Zealand and fielding more and more enquiries from legal firms whose clients were enjoying our facilities through their accountants. We initially opened up our facilities to a small number of legal firms so we could develop our service model to meet their specific needs. Over the last few years we have expanded that group to many more mid-law firms across Australia and this number is steadily growing due to our integration with the Lexis Nexis Affinity PM system. We have recently expanded our software and payment solutions offering to New Zealand legal firms to accommodate growing demand.
Since 2016 FeeSynergy has evolved into a leading Fintech providing world class software and payment solutions to Australian and NZ accounting and legal firms. Our integration partnerships with leading practice management system providers such as Lexis Nexis, Reckon APS, Xero and MYOB/GreatSoft is adding massive value to their clients.
We are often asked what are the keys to FeeSynergy’s success. There are many however here are three that should resonate with pretty much any type of business:
We have remained true to our original vision and mission to help accounting and legal firms improve their financial performance,
We have unique products that solve industry-wide problems, and
We have a team of very talented and dedicated people who strive every day to provide our clients with extraordinary levels of service.
Q: Could you venture how FeeSynergy’s association with the Client Choice Awards is contributing to your growth and diversification?
A: When we first signed on to sponsor the Client Choice Awards we had a relatively small but impressive client base. Our primary motivation for sponsorship was to create greater awareness of our brand and to be aligned with awards that recognised client service excellence in our chosen market . Our sponsorship over the last 10 years has provided market reach to a wider audience and cemented our status as a high quality service provider.
Q: In what ways do the Awards’ long-standing links with major professional institutions like Chartered Accountants Australia and New Zealand and the College of Law enhance FeeSynergy’s market position?
A: The links that the Awards have with the elite accounting and legal industry bodies strengthen both the integrity and importance of the Awards. It is an honour for FeeSynergy to be in the company of these leading industry organisations.
Q: What does the future hold for FeeSynergy and what can the Awards do to assist you to achieve your goals?
A: Whilst FeeSynergy was established 16 years ago, we still view ourselves as a young business with a long way to go to reach our full potential. Our flagship Collect software platform is used by over 300 leading accounting and legal firms across Australia and NZ and managing close to $2B in annual revenue. In a market comprising more than 15,000 practices and annual revenue close to $40B, we are not going to run out of potential clients any time soon!
The Awards are a key part of our marketing strategy to spread the word and also give back to the industry.
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